/ 


[Spouse  of  Representatives — Secret  Session.] 


HOUSE  OF  REPRESENTATIVES,  Jan.  15,  18G4.— Laid  on  the 
table  and  ordered  to  be  printed. 

[By  Mr.  1'keston.] 


.A.    BILL 

To  regulate  the  currency. 

1  Section    1.   The.  Congress  of  Vie  Confederate  States  of  America  do 

'3  enact,  That  from  and  after  the  passage  of  this  act,  the  present 

3  issue  of  treasury  notes  shall  cease. 

1  Sec  2.  That  the  outstanding  treasury  notes  be  fundable   in 

2  the  bonds  hereinafter  provided  for,  at  any  time  prior  to  the  15th 

3  day  of  June  next,  at  the  rate  of  eight  dollars  in  notes  for  one 

4  dollar  in  bonds,  and  until  the  15th  day  of  August  ensuing,  at  the 

5  rate  of  ten  dollars  in  note  for  one  dollars  in  bonds. 

1  Sec  3.  That  the  treasury  notes  outstanding  on  the  15th  day 

2  of  August,  1864,  shall  be  redeemable  two  years  after  the  ratifica- 

3  tion  of  a  treaty  of  peace,  but  shall  be  receivable  in  payment  of 

4  all  public  dues  except  export  duties. 

1  Sec   4.   That  the  Secretary  of  the  Treasury  shall  cause  a  new 

2  issue  of  millions  of  six  per  cent,  coupon  bonds,  paya- 

3  blc   in  twenty  years,  based  upon  export  and  import  duties,  and 


2 

4  other  leading  sources  of  revenue,  sufficient  to  pay  the  interest  on 

5  said  bonds. 

1  Sec.  5.  That  the  Secretary  of  the  Treasury  is  hereby  author- 

2  ized  to  issue  millions  of  treasury  notes,  which  shall 

3  be  receivable  in  payment  of  all  public  dues,  and  fundable  in  the 

4  new  six  per  cent,  bonds  hereinbefore  authorized  to  be  issued. 


